RTTNews - Existing home sales increased for the third consecutive month in June, according to a report released by the National Association of Realtors on Thursday, with the report also showed that home prices are declining less sharply.

The report showed that existing home sales rose 3.6 percent to an annual rate of 4.89 million units in June from a downwardly revised rate of 4.72 million in May. Economists had expected sales to rise to a 4.84 million unit rate from the 4.77 million unit rate originally reported for the previous month.

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